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|Finance Committee Explains County Insurance
|The Knox County Finance Committee met Wednesday night to review several items to take to the full board.
The County will soon be undergoing a similar process to the City government where debt is issued at lower interest to pay for previous debt at higher interest.
County Financial Advisor Kevin McKenna was supposed to explain the process at the meeting, but was unable to attend.
The item at issue came a few minutes later, however, as the way the County handles its insurance came under question by District Two Democrat Paul Stewart.
Stewart and County Board Chairman Greg Bacon shared an exchange of viewpoint last night.
"The third party administrator, they review our claims, they review the money we're taking in on premiums. They can't increase our premiums, they can't increase our insurance - all they get paid to do is manage our claims," says Bacon.
District Two Democrat Paul Stewart is disputing the County's handling of insurance bids, or as he claims, lack thereof.
Stewart says there has been a considerable increase in insurance costs without the bid.
"That is a one million dollar increase from the previous year of 1.87 million so there has been a considerable increase, I'm just saying that when we were able to bid out, we were able to save money and now because we did not bid out this time, we are paying considerably more," says Stewart.
He cited a recommendation by the State Attorney General's office, but Bacon said there's no need because the County handling of insurance doesn't fall under items to be bid out.
The finance committee says it will review the insurance committee's recommendation at their next meeting.
|02 20 13 by Newsroom
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